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they need nearly 60 billion euros more to expand the shock. the same time, the spanish government has said that the extra aid would push its budget deficit 7.4% of gdp in 2012, which is above the eu's target. so i don't know how she moves around so quickly from place to place, but from athens to madrid, here is julia. >> thanks very much, ross. you just have to bear with me if i make another freudian slip on greece versus spain. but right now, what we heard from the government over the weekend was that their deficit will be on target at 6.3%. but if you include the bank aid as you mentioned, 7.4%. they did make great pains to point out that european commission officials have not asked them to make any adjustments to reduce that number, but the question has to be asked what happens if they don't meet the deficit target of 6.3%. many analysts are expecting them to come in around 7% in terms of the target for this year. day take last week actually showed that the central government deficit came in just around 4.3% up to august. how, the full year target is 4.5% and then we're not even bringin
that this was an incentive for government in troubled countries to use the time and the regained confidence to introduce more structural reforms and i'm sure he will be more outspoken in the coming weeks and days about the necessity of national governments to use the time, to use the window of opportunity to deepen and enhance the structural reforms that are so can desperately needed. in all of the eurozone in order to regain world market and increased competitiveness. >> so industry rather happy with the way it's playing out right now. but we've heard other voices where they've said there's too much money circling around in the banking system. with a we need is confidence injection rather than liquidity injection and that can't just be bought by flushing the banking system with money. >> silvia, stay there. the central bank meanwhile as you say been criticizes the imf, accusing the fund of watering down and overstepping its mandate. lawyers from both sides are looking in to the legality of mario draghi's bond buying program saying the issue could be referred to the european court of justice. neither side co
. this as the spanish government is apparently ready to ask for a full bailout, but is being told to wait by germany. angela merkel is reluctant to put more aid requests in front of her parliament, both sides have denied that story. but it does come just a day after meeting between the eu and sm spanish economics minister. julia is in madrid with her own thoughts on this. you heard jim says it's only a matter of time really, so we just have to work out when. >>> that's certainly what the markets expect. also the message is that it's really difficult for the germans to say, hey, these three separate times on greece, cypress and perhaps on spain particularly after they've just received the banking bailout. the biggest shift seem to be in perhaps the spanish sentiment in this article that they're ready to ask as early as this week. so critical to him. they have to think of a bailout and also the enhanced credit line. it doesn't really make a distinction between the two. but of course the budget that we got at the end of last week suggested that they were laying the foundations of course for aid and of
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